GoPro

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Transcript of GoPro

Social InfluencesMarketing Influences(Promotion)Marketing“GoPro’s opportunity is to help people capture meaningful life experiences in an engaging, immersive way that they can’t with a smartphone” - CEO Nick Woodman (Forbes interview March 1, 2013)StorytellingCapture neat life moments and allow the user to share his experiences with others.Private company valued at $2.25 billion in 2012Over $500 million in sales for 2012 Sold specialty retailers over 50 countriesCEO: Nicholas WoodmanCompany Overview Value based targeting Adventure seekersNo longer reserved for professional athletes People who will share their experiences through social mediaCamera industryPicture QualityDurabilityEase of useNot competing with smart phonesDifferentiation between "reactive capture moments" and "meaningful life experiences"License user content for TV adsPartnershipsSponsored athletesViral Growth via users' content sharingCompetitionContourJVC AdixxionSony Action CamSony Action CamJVC Adixxion CameraContourGoPro$199.99, $299.99 and $399.99Contour$199.99, $299.99 and $399.99Sony Action Cam $199 and $269.Adixxion$199.95 and $299.95PricingProductDistribution (Placement)OnlineSpecialty storesShaun WhiteKelly SlaterBucky LasekCamera and accessoriesWorlds most versatile cameraHD videos and photosPOSITIONINGTARGETSEGMENTATIONWhere does GoPro go from here?Strategy- Expand definition of market- Continue investing in building BrandTakeawaysSince its inception in 2001, GoPro has experienced sustained growth.GoPro's competitive advantage in the action market lies in its powerful brand nameThis was accomplished through a variety of techniques.Takeaways (continued)These techniques include:Partnerships with top athletes and other top companies in the extreme sports world.Creation of GoPro community through social media platforms.Unique idea of using user submitted content for advertising purposesWith increasing competition, it is important that GoPro expand their target market in order to continue to grow.Is the business model sustainable?- Limited product offering- New entrants into market